Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) Short Interest Update

Invesco Oil & Gas Services ETF (NYSEARCA:PXJ) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 73,728 shares, an increase of 481.5% from the August 31st total of 12,678 shares. Based on an average daily volume of 47,794 shares, the days-to-cover ratio is presently 1.5 days. Approximately 2.5% of the company’s stock are short sold.

Key Headlines Impacting Invesco Oil & Gas Services ETF

Here are the key news stories impacting Invesco Oil & Gas Services ETF this week:

• Positive Sentiment: Continued conflict has disrupted roughly one-quarter of oil shipments through the Strait of Hormuz. The resulting supply risk, along with warnings that oil prices could remain elevated even if the Iran conflict ends, could support exploration, production and oil-field service activity. Why JPMorgan has given up predicting what the oil markets will do next Peter Schiff predicts economic downturn and higher oil prices
• Positive Sentiment: Analysts continue to cite Middle East supply risks and a global diesel shortage as reasons for a potentially bullish WTI and Brent outlook. Sustained crude prices near or above $100 per barrel would generally be favorable for oil producers and the service companies held by PXJ. WTI and Brent forecast
• Neutral Sentiment: PXJ short interest rose 481.5% to 73,728 shares as of September 15, equal to 2.5% of shares outstanding and 1.5 days to cover. The increase signals greater bearish positioning, although the relatively low days-to-cover ratio leaves some potential for short-covering if energy stocks strengthen.
• Negative Sentiment: Oil prices have pulled back as traders weigh a possible Iran truce and efforts to reopen the Strait of Hormuz. A decline in crude prices can reduce producer spending plans and weaken demand for oil-field services, weighing on PXJ. Stock Market Today: Bond Selloff Abates as Oil Price Slips Oil prices fall as markets look to Iran truce
• Negative Sentiment: Talk of a U.S. diesel-export ban is widening the discount of U.S. crude to Brent, suggesting refiners may process less crude if diesel becomes trapped domestically. That could reduce crude demand and weaken sentiment across the energy sector. Talk of US export ban on diesel
• Negative Sentiment: An unexpected 3-million-barrel increase in U.S. crude inventories, versus expectations for a draw, adds evidence of near-term oversupply and has capped oil-price gains. U.S. crude oil stockpiles post unexpected build

Invesco Oil & Gas Services ETF Stock Down 0.1%

Invesco Oil & Gas Services ETF stock opened at $44.70 on Friday. Invesco Oil & Gas Services ETF has a 52 week low of $25.56 and a 52 week high of $48.28. The company’s 50 day moving average price is $44.83 and its two-hundred day moving average price is $43.05. The stock has a market cap of $129.63 million, a P/E ratio of 9.62 and a beta of 0.78.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new position in shares of Invesco Oil & Gas Services ETF during the 2nd quarter worth $51,000. Quantinno Capital Management LP bought a new position in Invesco Oil & Gas Services ETF during the first quarter worth about $240,000. MinichMacGregor Wealth Management LLC bought a new position in Invesco Oil & Gas Services ETF during the first quarter worth about $376,000. Independent Financial Group LLC purchased a new position in shares of Invesco Oil & Gas Services ETF in the first quarter worth about $460,000. Finally, Private Advisor Group LLC bought a new stake in shares of Invesco Oil & Gas Services ETF in the first quarter valued at approximately $466,000.

Invesco Oil & Gas Services ETF Company Profile

The Invesco Dynamic Oil & Gas Services ETF (PXJ) is an exchange-traded fund that mostly invests in energy equity. The fund tracks an index of US companies in the oil and gas services sector that are weighted in tiers. The index uses a multi-factor methodology to select holdings. PXJ was launched on Oct 26, 2005 and is managed by Invesco.